Reply to Should current homeowners wish for home values to decline?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It seems weird to expect people who own an asset to hope the value will go down so that someone else can afford to buy it.  If housing values drop, some people will be underwater, lose all equity and may be forced to sell. This would benefit you nicely but that other family just lost their home.

It’s similar to the whining as to why boomers aren’t updating their homes AND pricing them as if they aren’t updated, so new buyers get a better deal and hassle free move in ready with HGTV design.

The housing crisis is about basic high density housing and fast, reliable public transit not being available leading people into homelessness or sitting in their car 3-4 hours a day commuting. The housing crisis is NOT you not being able to afford a nice SFH near walkable restaurants, great school district and short commute.[/quote]

Agree with all of this. I'm also sick of hearing people whining about boomers not gifting them a renovated house for far below market value. I'm sick of the boomer-blaming ageism in general (and no, I'm not a boomer).[/quote]

I don't blame the boomers for selling their homes for top dollar. They only need one buyer to pay that price, and unfortunately due to the lack of inventory, there is a buyer out there. But I do blame the boomers who vote against building new housing because it might affect their home price or boomers who request tax breaks to stay in their homes. Not every boomer is like this, but a lot are![/quote]

99% of them are like that lol. Their own kids are priced out in the neighborhood they grew up in. I think part of it is that the retired boomers are just bored to be honest. [b]A lot of them have less than 15 years to live and yet they worry about what their neighborhood will look like in 30 years[/b] [/quote]

And then their kids will inherit their house and millions.  I'm a millennial, but I notice that the people who complain most about boomers often have parents who own the $3M house they bought for 5 grapes in 1981 (or whatever the meme is).  Ok, congratulations - your family is rich and you'll benefit from the greatest wealth transfer in history in 15-25 years.  [/quote]

My parents are rich but I am assuming the healthcare industry will be absorbing all that money, probably at the very end of their lives.[/quote]

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